Quote from: wxa7115 on Today at 06:06:14 AM

Quote from: lienfaye on January 25, 2023, 05:16:18 AM

Engaging in crypto doesn't guarantee that you'll become financially stable or wealthy. Because not all traders are able to gain when they trade even they're long been here and used to the market movement and knowledgeable on how to make an analysis. That's why many of us don't go full time because we can't only rely on trading (though there are traders who managed to do so) and it's wise to have another resources where we can earn a stable income.

Anyway, trading/investing are profitable but it can't make you wealthy using a small capital and in a short period. Hence, be aware of the facts before trying to engage yourself to avoid having disappointment.

This is a misconception which is very common, newbies seem to believe that just because they become part of this market riches will come their way and nothing could be further from the truth.

In order for anyone to make profits they need someone else to lose, this means that if we buy bitcoin there is someone else out there which believes bitcoin will go down soon and this is what makes them willing to sell, the trader which can take the correct decision the most often is the one which becomes a long term winner, and it is unlikely a newbie has the necessary skills to compete against traders which have been here for years and will end up losing their coins to them.

Indeed, those who have such thoughts (trading accelerate wealth) are those who are new to the world of trading which we often refer to as beginners. I also wonder why they can conclude so easily without them knowing what trading means. Those who think like that we must give an explanation, because otherwise they will act without sufficient knowledge base. As a result they will be trapped and can experience huge losses because of that. In the end they will make conclusions unilaterally and usually they will discredit what they are doing, in this case cryptocurrency.